Pat McGrath Labs Secures $10M Financing Amid Chapter 11 Proceedings; GDA Luma to Hold Controlling Stake

Pat McGrath Labs has received $10 million in debtor in possession financing. The financing by GDA Luma was approved by a bankruptcy court. GDA Luma has also made a further commitment of at least $20 million in post-emergence working capital. More from WWD As part of the deal, upon exit, GDA Luma will hold a controlling equity interest, while founder Dame Pat McGrath will remain a significant equity owner and continue as chief creative officer. As previously reported by WWD, Pat McGrath Labs filed for C ...